29 December 2015, Lagos – Nigeria earned N412.983 billion from the export of Liquefied Natural Gas, LNG, Liquefied Petroleum Gas, LPG, also known as cooking gas and other gaseous materials in three months, between July and September 2015, according to data obtained from the National Bureau of Statistics, NBS.

LNG Finima

The NBS, in its Foreign Trade Statistics Report for the Third Quarter of 2015, revealed that this represented an increase of 9.5 per cent or N35.813 billion when compared to N377.17 billion earned by the country from the export of those commodities in the second quarter of 2015.

Giving a breakdown of the third quarter figures, the NBS stated that the country’s LNG export stood at N262.202 billion; liquefied propane export was valued at N106.803 billion, while the export of other petroleum gases, among others, in gaseous state was valued at N22.762 billion.

In addition, the country earned N10.101 billion from the export of LPG and other gaseous hydrocarbons, while it also earned N8.115 billion from the export of liquefied butanes.

Liquefied propane

In comparison, in the second quarter of 2015, the country earned N260.7 billion from the export of LNG; N66.441 billion from the export of LPG and other gaseous hydrocarbons; N43.88 billion from liquefied propane, while liquefied butane export fetched the country N6.15 billion.

In addition, France received N106.billion of Nigeria’s total export; South Africa — N105.05 billion; United States — N85.51 billion; Japan — N80.44 billion and Indonesia — N71.37 billion among others.

On the other hand, China emerged the destination with the highest value of Nigeria’s import in the period under review, accounting for N459.4 billion of Nigeria’s total imports. The United States followed with Nigeria imports from the country valued at N160.6 billion, while the country imports from Belgium stood at N128.32 billion.

Continuing, the report stated that, “Further analysis of Nigeria’s imports by Continent, revealed that the country consumed goods largely from Asia with imports valued at N 764.5 billion or 45.3 per cent of total imports.

“The Country also imported goods valued at N596.4 billion or 35.3 per cent from Europe and N241.3 billion or 14.3 per cent from The Americas. Import trade from Africa stood at N65.4 billion or 3.9 per cent while imports from the region of ECOWAS amounted to N16.3 billion.”

LPG, also known as cooking gas and other gaseous materials in three months, between July and September 2015, according to data obtained from the National Bureau of Statistics, NBS.

The NBS, in its Foreign Trade Statistics Report for the Third Quarter of 2015, revealed that this represented an increase of 9.5 per cent or N35.813 billion when compared to N377.17 billion earned by the country from the export of those commodities in the second quarter of 2015.

Giving a breakdown of the third quarter figures, the NBS stated that the country’s LNG export stood at N262.202 billion; liquefied propane export was valued at N106.803 billion, while the export of other petroleum gases, among others, in gaseous state was valued at N22.762 billion.

In addition, the country earned N10.101 billion from the export of LPG and other gaseous hydrocarbons, while it also earned N8.115 billion from the export of liquefied butanes.

Liquefied propane

In comparison, in the second quarter of 2015, the country earned N260.7 billion from the export of LNG; N66.441 billion from the export of LPG and other gaseous hydrocarbons; N43.88 billion from liquefied propane, while liquefied butane export fetched the country N6.15 billion.

In addition, France received N106.billion of Nigeria’s total export; South Africa — N105.05 billion; United States — N85.51 billion; Japan — N80.44 billion and Indonesia — N71.37 billion among others.

On the other hand, China emerged the destination with the highest value of Nigeria’s import in the period under review, accounting for N459.4 billion of Nigeria’s total imports. The United States followed with Nigeria imports from the country valued at N160.6 billion, while the country imports from Belgium stood at N128.32 billion.

Continuing, the report stated that, “Further analysis of Nigeria’s imports by Continent, revealed that the country consumed goods largely from Asia with imports valued at N 764.5 billion or 45.3 per cent of total imports.

“The Country also imported goods valued at N596.4 billion or 35.3 per cent from Europe and N241.3 billion or 14.3 per cent from The Americas. Import trade from Africa stood at N65.4 billion or 3.9 per cent while imports from the region of ECOWAS amounted to N16.3 billion.”